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  1. #1
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    cost to own question

    An E39 (2001 probably) is admittedly at the top of my "doable" range but I just lust after this vehicle...I think. I have yet to drive one. I'm kind of scared. What if I really REALLY like it? Anyway, it's probably more than I should spend but cars ARE my entertainment. I don't like sports...don't drink (much)...don't travel to speak of...so, I feel the extra expense is justified. I would be looking at an M3 but I have two issues pushing me towards the M5. One is that I spend 2-2 1/2 (total) hours in the car just getting to and from work so being quite comfortable is a prime concern. The other is my girlfriend's parents just moved into town and we seem to spend a lot of time on the weekend doing "family" stuff that involves me carting the group around in her Pathfinder, which just isn't "doing it" for me. So four doors have taken on a new attraction. My biggest concern is that while I'm prepared to spend what I need to spend to BUY the vehicle...what should I be looking at to OWN the vehicle? How much do you guys and ladies spend on upkeep? I'm probably looking at a 40K to 50K mile vehicle and I'll put about 20K a year on it. I don't know if anyone would have any experience with both cars but I'm also wondering if there would be a huge difference in the upkeep costs of an M5 vs. say the 540. Sorry for the long post and thanks.ron hecht
    non-owner...


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    looking for one myself

    I've found a lot more info on M5board.com. There have been a couple of recent threads on cost-of-ownership there. I test drove one this last weekend, and will tell you that I can think of no better car to spend your commute in. Very comfortable to cruise in, but will also bring a smile to your face taking on-ramps and passing people. I'll be spending 1.5-2 hours a day commuting as well when I, hopefully, pick one up sometime in the next week or so. GOOD LUCK!

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    Re: cost to own question

    Based on my experience with my 00 E39 M5, the cost of ownership is higher than on a 540. As soon as it says M on it, you will pay a premium for the pleasure of driving it. M parts and service are just more expensive. If you are buying a used one, there are two major scheduled maintenance inspections. The first one occurs at about 35,000 KMs and the second at about 98000 KMs. See if these have been done before you buy, because they can cost a lot. The second one costs about $1200-$1400 including labour and parts, assuming they do not find anything major. Brake jobs are pricier than on the 540 and tires cost more, too, because everything is high performance on this car. If you are going to be putting serious milage on the car, you can expect to bump into some issues along the way - usually small stuff like sensors, but they all add up over time. Also, the car is designed to consume oil - 10W60 Synthetic. This leads to carbon build up problems as the car ages, and this can be costly to deal with. If you think it is worth it - go for it. My M5 is the best and most enjoyable car I have ever had, and I am happy to pay the cost to run it. But, really, it is not a car for someone on a tight budget.

  4. #4
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    Re: cost to own question

    Thanks for both the posts thus far. I'm still not dissuaded. Just wondering what the balance will be between buying something cheaper but it having more miles thus more issues thus ultimately more cost. I gotta find a new word for "thus." Er...and an M5.

    Thanks again.ron hecht
    non-owner...

  5. #5
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    Just sold my MY2000 and my total costs for...

    out-of-pocket repairs were roughly $16,000. The depreciation was not bad, I only lost about $15,000 when I sold it. I had it for 3 years and 30,000 miles so it cost me $31k overall for the experience. Hope it helps. I've decided to lease a Mercedes for the next 3 years ($850 per month). For less than $1k per month, all in, you can own an M5. That's the number, good luck.

    On the flipside, I bought a Ferrari 360 in 1999 for $128k and sold it for $125k last year. I put $15k in repairs/wheels into it. That's quite amazing.

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    Interesting, so about $1 per mile ownership

    I have a running analysis on my 97 M3/4 and I drove it for 95k miles, spent $13k in repairs, upgrades, tires, depreciated about $21k and it cost me $.46/mile. Makes sense that a car twice the cost of the M3 could have twice the per mileage cost to own.

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    Re: Just sold my MY2000 and my total costs for...

    I have a 2000 M5 with 50 k on it. Bought if for $38K in '04 with 41K miles. Have spent $2,000 so far and I love the car. How many miles did you have on yours when you sold it? What types of things did you spend money on?

  8. #8
    meen
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    Question for markincalgary

    Mark,

    I live in Toronto and I am thinking of buying a 2002-2003 M5. What kind of costs am I looking at for the following:
    -Oil changes
    -brakes pads/rotors
    -inspection 1 & 2
    -general maintenance, etc...

    Thanks

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    I'll second that!!!

    I bought a 2001 with 54k miles in Feb of 2005 for $38000. Since then I have spent: $700 brakes & rotors, $1100 new tires, $3000 suspension parts, & about another $1500 on stuff I don't even remember. that's in 1 year, but now I have a perfectly running car that should cost less in the future. Unless you count the carbon issue, which as far as I hear might cost from $5-8 thousand to fix!!! That's US dollars by the way. I am delaying action on the carbon issue in hopes that BMW cones out with some kind of subsidy for this very forseeable repair. I hope they will come out with something rather than alienating all of us with a big fat TOO BAD. Cheap to own..no way. Fun to drive..WAY.

    RedRocket
    Mike Milwaukee, WI
    2001 64K

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